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Pollaers quits Pac Brands

The embattled clothing maker behind Bonds will get its second boss in less than three years after John Pollaers' shock resignation over a boardroom stoush.

The chief executive's sudden departure from Pacific Brands was blamed on a battle over the future direction the company should take.

"John's decision to leave now has been driven by divergence between his views and those of the board regarding the best path forward for the company and its businesses," chairman Peter Bush said in a statement on Monday.

"This divergence has become clearer as the strategic review being conducted by Macquarie Capital Limited has progressed."

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Mr Bush will act as executive chairman until a replacement for Mr Pollaers is found at the helm of the company that makes Berlei bras, Sheridan sheets and Holeproof underwear.

Mr Pollaers joined Pacific Brands in September 2012, replacing Sue Morphet who had spent about five years trying to turn around the company's fortunes and controversially sent the manufacture of some of its famous brands offshore.

Mr Pollaers' resignation comes just weeks after Pacific Brands slashed its full year earnings guidance and hired Macquarie Group to carry out a strategic review.

Shareholders took his resignation in their stride, with Pacific Brands shares rising one cent to 55 cents.

IG markets strategist Evan Lucas said Mr Pollaers' departure signalled Pacific Brands' senior management team was struggling to be proactive in changing their business strategy.

"It underlines how tough they are doing it and how strong and immovable the business model has been for a period of time," Mr Lucas said.

"They are very much unable to react quickly enough and proactively enough to the market and it shows that John Pollaers has thrown in the towel."

Pacific Brands in June cut its underlying earnings guidance by about 14 per cent to between $90 million and $93 million.

It blamed the warmer-than-expected autumn and winter weather and weak consumer confidence for eating into sales.

The company has struggled for years with hefty losses and lower sales.

Under Ms Morphet's leadership it undertook a major restructure in 2009, with the closure of some Australian factories and the sale of some brands.

The company considered several takeover offers from private equity firms in 2012, but failed to reach a deal.

Ms Morphet quit after the company's losses blew out to $450.7 million in August 2012.

At the time, Mr Pollaers said he believed Pacific Brands had the potential to be a much-loved company, given the potential of its famous brands.

A year later, the company returned to the black, posting a $73.8 million net profit, partly thanks to a surge in demand for Bonds underwear.

But since then it, along with other clothing retailers, has been hit by a slide in consumer confidence and spending, along with the warm start to winter.